Arcus Biosciences (NYSE:RCUS) Shares Gap Down – Time to Sell?

Arcus Biosciences, Inc. (NYSE:RCUS) gapped down prior to trading on Tuesday. The stock had previously closed at $22.14, but opened at $21.26. Arcus Biosciences shares last traded at $23.9140, with a volume of 1,339,644 shares trading hands.

Wall Street Analyst Weigh In

RCUS has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Arcus Biosciences from $23.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, August 6th. Morgan Stanley set a $23.00 target price on shares of Arcus Biosciences in a report on Monday, August 10th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcus Biosciences in a report on Friday, September 11th. TD Cowen began coverage on shares of Arcus Biosciences in a research report on Wednesday, September 16th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Arcus Biosciences in a research note on Wednesday, October 14th. They issued an “overweight” rating and a $41.00 price target on the stock. Twelve equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.55.

Arcus Biosciences Stock Up 9.1%

The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.08 billion, a PE ratio of -6.19 and a beta of 0.94. The business has a 50-day moving average price of $26.83 and a 200-day moving average price of $26.24.

Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.17. The firm had revenue of $41.00 million for the quarter, compared to the consensus estimate of $21.98 million. Arcus Biosciences had a negative return on equity of 89.54% and a negative net margin of 393.16%. The business’s revenue was down 74.4% on a year-over-year basis. Equities research analysts forecast that Arcus Biosciences, Inc. will post -3.52 earnings per share for the current fiscal year.

Insider Activity at Arcus Biosciences

In other news, CAO Alexander Azoy sold 2,827 shares of Arcus Biosciences stock in a transaction on Friday, August 21st. The stock was sold at an average price of $30.00, for a total transaction of $84,810.00. Following the transaction, the chief accounting officer owned 39,581 shares in the company, valued at $1,187,430. The trade was a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of hedge funds have recently modified their holdings of RCUS. Bank of New York Mellon Corp acquired a new stake in Arcus Biosciences during the second quarter worth about $16,741,000. Legal & General Group Plc purchased a new position in Arcus Biosciences during the second quarter worth about $5,906,000. BlackRock Inc. purchased a new position in Arcus Biosciences during the second quarter worth about $506,113,000. Corient Private Wealth LP purchased a new position in Arcus Biosciences during the second quarter worth about $1,823,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Arcus Biosciences during the first quarter worth about $1,862,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for cancer and other serious diseases. The company uses its research platform to discover and advance medicines designed to target immune suppression and other biological mechanisms involved in tumor growth.

Arcus’s oncology pipeline has included antibody-based and small-molecule therapies aimed at targets such as TIGIT, PD-1, CD73, and the adenosine A2A and A2B receptors. Its key development programs have included domvanalimab, zimberelimab, quemliclustat, and etrumadenant, which have been evaluated in clinical studies across several cancer types, including lung, gastrointestinal, and colorectal cancers.

Founded in 2015 and headquartered in Hayward, California, Arcus conducts research and clinical-development activities intended to support potential commercialization in international markets.